what term describes the unique, nonreplaceable tokens created using blockchain technology?

1 year ago 79
Nature

The term that describes the unique, non-replaceable tokens created using blockchain technology is non-fungible tokens (NFTs). NFTs are digital assets that have a distinct value and cannot be exchanged on a one-to-one basis like cryptocurrencies. They are used to certify ownership and authenticity of various digital and physical items, such as artwork, collectibles, and real estate. NFTs are recorded on a blockchain, which ensures their security, transparency, and immutability.